Trend from the first bar, consecutive buy climax, bear channel

• Friday, September 14, 2012
• Bar 1 - Yesterday = exceptionally strong bull with two legged pullback in a bull move into close. Gap up strong bull bar so swing buy or long, but might get higher high major trend reversal
• Bar 2 - Strong follow through so more up but swing only since low probability and might try for major trend reversal. Always in long so probably buyers below 3
• Bar 3 - Bull bar, more up, but swing only since consecutive buy climax and risk of correction that could last for hours
• Bar 4 - Bear inside bar but too small for top. Buyers below and maybe above. Might get final flag so swing only or have to be quick to manage
• Bar 6 - Two bar revresal but not strong top. One bar final flag. Scalp or swing sell or short. Breakout pullback buy or long above but low probability so swing or wait
• Bar 7 - Another bull bar. Extreme buying so another buy climax. Should get many bar reversal today starting anytime. Bears will start to scale in. Bulls should scale out. The only people buying now are those who have to = trapped shorts. Smart bulls have already breakout test or bought and will use this buy climax to take profits and then buy or long again much lower
• Bar 8 - Fail, failure breakout but 2t tail. Don't sell or short
• Bar 9 - Another breakout. Probably exhaustion gap. Fail, failure buy or long close, scalp
• Bar 11 - Reversal bar but bull body. 11 bars without pullback so extreme and buy climax. 50% chance high of the day. Ok swing sell or short and maybe swing and maybe part scalp. Better to wait for approx. Ten bar, two-legged correction before buying, even tho 1st pullback in trend from the first bar bull
• Bar 12 - Good bear bar. Ok swing sell or short below
• Bar 13 - Big bear bar. Always in short, but trading range more likely than reversal day
• [more Bar-by-Bar Analysis in the Forums at www.brookspriceaction.com]